08.04.202607:26:36UTC+00FTSE 100 Jumps 2.5% to Near Highs on Iran Ceasefire

The FTSE 100 jumped more than 2.5% on Wednesday, climbing to its highest level since March and moving close to the record highs set in February. The rally came after the US and Iran agreed a two-week ceasefire just hours before President Donald Trump’s deadline, bolstering hopes of a de‑escalation in the Middle East.

The agreement sparked a strong shift into risk assets, while oil prices slumped, with both Brent and WTI dropping below $100 per barrel and falling around 15% on the news. Energy majors underperformed: BP fell 8% and Shell lost 6.3%, even though Shell reported significantly stronger oil trading results.

Gains were broad-based across the index. Antofagasta advanced more than 13%, while EasyJet and Fresnillo each rose by more than 10%. Rolls-Royce and Anglo American climbed roughly 9–10%. Banks also staged a robust rally, with Barclays, Lloyds, HSBC and NatWest all recording solid gains. Defensive heavyweights including AstraZeneca, GSK, Unilever and Rio Tinto also traded higher.